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Book chapters (1996), International Business Negotiations, Pergamon, pp. 273-301

Preparing Mergers and Acquisitions in the European Union : The Asset of Cooperative Negotiation

de BEAUFORT Viviane , LEMPEREUR A.

Much evidence reinforces the thesis that a successful merger or acquisition may strongly rely on early cooperative negotiation at its preparation stage. Such cooperation will help both partners to strengthen qualities and to overcome weaknesses after the M&A. This may help choose between hostile takeovers, where contacts are minimal and often tense, and negotiated offer (1.). Whatever M&A strategy is chosen, this paper also focusses on the content of this required mutual knowledge. For a M&A in the European Union, there are many elements to learn about one's own company (2.), and even more to learn about oneself and the target when the M&A is cross-cultural (3.). There is also much to learn about the other company through audit (4.). Under many circumstances, this multi-faceted knowledge will condition the implementation of the M&A.

DE BEAUFORT, V. and LEMPEREUR, A. (1996). Preparing Mergers and Acquisitions in the European Union : The Asset of Cooperative Negotiation. In: International Business Negotiations. 1st ed. Pergamon, pp. 273-301.